HDFC Home Loan Interest Rate Benefits & Features

HDFC housing Finance offers Home Loans to all kind of residential property buyers and it offers them a built to suite features with customized interest rate benefits. The lender offers a home loan for purchase of a plot, Self- construction of a bungalow, purchase of a ready/under-construction apartment or a Flat and others, the benefit is, HDFC house loan offers a loan to all and the interest rate is designed basis of risk on the type of collateral or the type of the property being offered as security. Below are the benefits of HDFC home loan interest rates:

HDFC offers one of the lowest interest rate for home loan in the market

Fixed and Floating interest rates to suite requirement and need of every home loan borrower

Rate of interest is linked to the market- no borrower will fall into a situation where at any point of time during the term of loan, he/she is paying higher rate compared to the offers available in the market.

HDFC Home loan interest rates in linked to HDFC’s RPLR

Other Benefits include of Home loan includes – No Pre-part payment Charges, NO Foreclosure Charges, Longer tenure of the loan and one of the lowest Home Loan EMI for all kind of home loans.

HDFC Housing Finance Interest Rates Based on Type of Property

The home loan interest rate of HDFC housing finance vary on the basis of type of property a borrower is buying and it further depends on the category of loan applicant, HDFC offers slightly discounted rates on home loan to women borrowers. Below is the interest rate chart of HDFC housing loan basis of type of the property:

HDFC Rates Based on Type of Loan and Property

HDFC Home Loan Type

Interest Rate Range for Women Borrowers

Interest Rate Range for Others

New Property Purchase

8.35% to 8.90%

8.40% to 8.95%

Resale Home Loans

8.35% to 8.90%

8.40% to 8.95%

Plot purchase Loans

8.60% to 9.15%

8.60% to 9.20%

Construction Home Loan

8.35% to 8.90%

8.40% to 8.95%

Balance Transfer Loan

8.35% to 8.90%

8.40% to 8.95%

Top- Up Loan

8.35% to 8.90%

8.40% to 8.95%

HDFC Home Improvement Loan

8.35% to 8.90%

8.40% to 8.95%

HDFC Home Extension Loan

8.35% to 8.90%

8.40% to 8.95%

HDFC Short- Term Bridge Loans

12.30% to 13.15%

12.30% to 13.15%

HDFC Rural Housing Finance

8.65% to 9.20%

8.70% to 9.25%

HDFC Reach Home Loans

10.50% to 11.50%

10.55% to 11.55%

HDFC Home Loan Interest Rate Type

HDFC Home Loan offers two types of interest rates based on HDFC Housing Finance Corporation Limited’s Retail Prime Lending Rate (RPLR) which largely depends on prevailing interest rates in the market and the cost of funds and business operational & expanses of HDFC.

Adjustable Rate Home Loans: HDFC housing finance offers Adjustable Rate Home Loans linked to its RPLR are floating or variable type of interest rate. If there is any change in HDFC RPLR the interest rate on a borrowers Home Loan get reset or revised as per the movement of RPLR. If RPLR increases by 0.25% or more, the rate of interest on your loan will increase by 0.25% or as per the revised increase. If RPLR reduces your home loan rate get reduced accordingly. As per the interest rate policy of HDFC, if RPLR fluctuates your rate will be revised on 3 months from the date of disbursal, in short the HDFC RPLR is 3 month reset. If the rate of interest increases the term of your home loan get increased or alternatively you have the option to swap the EMIs. If the rate of interest reduces either term of your home loan get reduced or you can swap the EMI instrument and keep the loan term unchanged.

TruFixed Home Loan: under TruFixed Home loan HDFC offers home loan with part fixed rate term and part adjustable rate term. A TruFixed home loan rate the rate remains fixed for 2 to 3 years and post that the rate of interest automatically get changes to adjustable interest rate to rest of the term of the loan.One home loan applicant can get the benefit of a TruFixed home loan of HDFC to lock the rate and safeguard from the future interest rate increase.This type of interest rate is also called as semi-fixed interest rate.

HDFC Home Loan Interest Rate for Women Borrowers

HDFC offers discount in interest rate and processing fees for all type of Home loans to women borrowers. The discount in interest rate to lady borrower vary from 0.05% to 0.15% depending up on the type of home loan and the loan amount. A women borrower can be an applicant or co-applicant to the loan with income considered for computation of home loan eligibility. In the processing fees, it can be a discount of Rs. 5000/- to 0.25 percent of the loan amount

HDFC Home Loan Interest Rate for Salaried Individuals

HDFC offers tailor made home loan solutions for Salaried customers, it offers a very attractive interest rate which starts at XX% and the longest home loan tenure which goes up to 30 years, subject to the applicant/s meeting age and other loan eligibility criteria of the lender. Below are the interest rate details for salaried category:

Home Loan Interest Rate for Salaried Customers - HDFC

Loan Amount Slab

Salaried Women

Salaried- Others

Up to Rs. 30.00 Lacs

8.35%

8.40%

Above Rs. 30.00 Lacs and Up to Rs. 75.00 Lacs

8.35%

8.40%

Above Rs. 75.00 Lacs and Up to Rs. 200.00 Lacs

8.40%

8.45%

Above Rs. 200.00 Lacs

8.40%

8.45%

Above interest rates are the lowest available rates, further the interest rate may vary depending on the type property a borrower is purchasing & type of HDFC Home Loan.

HDFC Home Loan Interest Rate for Self-Employed Individuals

products to Self-employed business owners and professionals. It offers one of the lowest interest rate to this segment of customers with the longest tenure in the industry, subject to the applicant/s meeting age and other loan eligibility criteria of the lender. Below is the interest rate and processing fees details for salaried category:

Home Loan Interest Rate for Self-employed Customers - HDFC

Loan Amount Slab

Salaried Women

Salaried- Others

Up to Rs. 30.00 Lacs

8.35%

8.40%

Above Rs. 30.00 Lacs and Up to Rs. 75.00 Lacs

8.35%

8.40%

Above Rs. 75.00 Lacs and Up to Rs. 200.00 Lacs

8.45%

8.50%

Above Rs. 200.00 Lacs

8.50%

8.55%

HDFC home loan- Factors Deciding Home Loan Interest Rate of a Customer

The rate of interest HDFC Ltd will offer to a home loan applicant depends on one or more of below listed factors:

Type of Borrower: having a woman as a borrower or co-borrower in the home loan, is one of the most important factor while the lender is deciding the interest rate of a loan application. A woman can be either a co-applicant or an applicant with income from business or salary.

Home Loan Amount: HDFC home loan interest rate bracket depends on the quantum of loan amount a borrower has applied for or taking higher the loan amount higher will be the interest rate, HDFC offers lowest interest rate on home loan up to Rs. 30.00 Lacs

Property Type or Home Loan Type: HDFC ltd offers a different interest rate on different types of home loans, the rates are lowest on ready new/resale home loans where as it higher for rural home loans, Top-Up and plot purchase loans.

Income of Applicants/s: The interest rate for a borrower also depends on the Income of the borrower, higher the income lower would be the interest rate HDFC will offer.

Credit & Risk profile of Applicant/s & Property: HDFC home loan rates at times also depends on credit and risk profile of home loan applicant/s along with the inherent risk on property.

Category of Borrower: HDFC Home loan rates depends on employment category of a loan applicant/s, generally salaried individuals get lower interest rate compared to Self-employed business owners and professionals.

HDFC Home Loan Interest Rate Conversion Fees

HDFC Home Loans - Conversions Fees

Name of Service

Type of Fees/ Charges

Payable –When

Frequency

Amount of Fees/Charges in Rs

Switch to Lower Interest Rate in Variable Rate Loans

Applicable for all Home Loan, all Home Extension Loan and Home Improvement Loan

HDFC Home Loan Interest Amount Calculation

Table below is an illustration of total interest payable onRs. 50.00 Lacs home loan over a tenure ranging from 10 to 30 years with an interest rate of 8.35 to 8.60 percent. The interest outflow on a home loan will increase as the tenure of the home loan increases other than increasing interest rate. The simple reason of the same is a borrower gets longer period to use the money so the lender charges him/her interest for the same period. It is advisable to take a home loan for a longer tenure and as your monthly cash flow increases in coming years either increase the EMI and get the tenure of the loan reduced or make part pre-payment of the home loan as possible, that will help you to save on total interest payable for your home loan.

Home Loan Amount in Rs. (Lacs)

Loan Tenure in years

HDFC Home Loan Interest Rate

HDFC Home Loan EMI

Total Interest payable

Total Interest + Principal loan amount payable

50.00

10

8.35%

102221

1133293

6133293

50.00

15

8.35%

48798

3783701

8783701

50.00

20

8.40%

43075

5338054

10338054

50.00

25

8.45%

40093

7027906

12027906

50.00

30

8.50%

38445

8840442

13840442

50.00

30

8.55%

38622

8904276

13904276

50.00

30

8.60%

38800

8968210

13968210

Type of Home Loans HDFC Offers

Home Loan Type

Target Audience

Home Loan for Salaried and Self-Employed

Professionals who are self-employed and salaried, non-professional self-employed people.

HDFC Pre-Approved Loan Scheme

For those looking to negotiate better with their sellers or mark their own financial credibility.

HDFC NRI Home Loan

Non-resident Indians willing to purchase a property in India.

HDFC Home Loan Transfer

For those looking to shift from existing exorbitant interest rates and costly EMIs over to HDFC’s advantage in this regard.

Home Improvement Loan (HIL)

Looking to upgrade home/property by making structural improvements, painting, and waterproofing, roofing and internal, external repairs.

Home Extension Loan

Addition of extra rooms to an existing home, or similar modifications.

HDFC Special Home Loan for Agriculturists

For farmers to buy property in residential areas of villages. No mortgage of agricultural land is required.

HDFC Rural Housing Finance

This loan is extended to private sector and government employees for properties in rural residential areas.

FAQs on HDFC Home Loan Interest Rates

I am a salaried and working with an MNC what’s best interest rate I can get from HDFC?
The interest rate HDFC will offer you for your home loan depends on the loan amount you are planning to take as the interest rate vary according to the loan amount, type of property you are purchasing and you will get a cheaper rate from HDFC if you are taking your wife or mother as a co-applicant in the loan and if they have an income from Salary or Business. Below is the rate structure:

Your Home Loan Amount Slab

Applicable Interest rate for your home loan if there is a women co-applicant in the loan with either salaried or business Income

Applicable Interest rate if there is no women co-applicant in the loan or a women co-applicant without Income

Up to Rs. 30.00 Lacs

8.35%

8.40%

Above Rs. 30.00 Lacs and Up to Rs. 75.00 Lacs

8.35%

8.40%

Above Rs. 75.00 Lacs and Up to Rs. 200.00 Lacs

8.40%

8.45%

Above Rs. 200.00 Lacs

8.40%

8.45%

Home Loan News & Updates As it Happens

HDFC Ltd, Offers Special Interest Rate on Home Loan Transfer from other Banks & NBFCs

10th Jan 2018 :
HDFC housing loan is offering special interest rate on all the balance transfer home loans customers from other banks and NBFCs, where the repayment track of the home loan borrower is clear with the existing lender. HDFC is offering a nil processing fees along with the discounted interest rate for Home Loan BT customers. The interest rate starts at 8.35% for different type of home loans and the rate of interest is valid for all the home loan applications submitted on or before 31st March 2018 and disbursement of on or before 30th April 2018

In Short Term Home Loan Interest Rates, Will Not Change- HDFC Limited CEO, Keki Mistry

According to the chief of India’s largest housing finance company Mr. Keki Mistry, Home loan Interest Rates will remain stable during next 3-4 months’ period. Mr. Mistry further said HDFC limited will continue to grow in all the business including affordable housing, construction finance and other home loans.

HDFC is Expected to Offer Special Interest Rate on Home Loans in the last Quarter of The Financial Year March18

5th Jan 2018 :
During the last quarter of the financial year. HDFC home loan is expected to offer special rates for all ticket size home loan and for different category of home loan borrowers. It is expected to offer adiscount of 0.05% to 0.15% on its existing home loan interest rates which is in the range of 8.35% to 9.25%. along with the discount in interest rates it’s also expected to offer discount on processing fees of the loan.

HDFC Limited reduces home loan Interest rate to 8.40%

17th May 2017
Indian home loan market has got into interest rate competition as top 3 lenders have reduced their home loan rates to 8.40 percent from 8.50%. HDFC home finance has reduced its housing loan interest rate to 8.40 percent for non- women borrowers for a home loan amount of up to Rs. 30.00 Lacs, in the same loan amount rage it has cut its interest rate too 8.35 percent for women borrowers. Before this rate reduction HDFC ltd had earlier reduced the interest rates in Feb2017 to 8.50 percent. Since it’s an NBFC it offers home loan with RPLR unlike its Banking competition where the rates are based on MCLR.